(3 July 2018, Hong Kong) – The Financial Dispute Resolution Centre (FDRC) today announces the implementation of terms in relation to small enterprises under the Financial Dispute Resolution Scheme (Scheme). The scope of eligible claimants under the enhanced Scheme, apart from individuals and sole proprietors, is widened to cover small enterprises. Thus, the FDRC is able to assist small enterprises in resolving their monetary disputes with banks and securities firms by way of primarily “Mediation First, Arbitration Next”.
Under the Scheme, a small enterprise means a limited company or partnership which, in accordance with its or its group’s latest financial statement, is able to meet all of the following requirements:
Major features of the Scheme are:
The FDRC independently and impartially administers the Scheme, which provides a cost-effective and time-saving financial dispute resolution avenue. For further information, please call the FDRC hotline at 3199 5199 or visit the FDRC website at www.fdrc.org.hk.
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